New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-12-05
finanriaL
To the First Mortgage Bond
holders of the Wabash System
East of the Mississippi.
REPRESENTED BY THIS COMMITTEE


The undersigned recommend tho advisable course
to be pursued under the assent TO
the plan for the SANITATION Of tho Wabash Railway prop
srty dated November 81 1887 and deposit your bonds with
the Central Trust Company
This plaR for which this
Committee has strenuousy conendcd.
The payment OF all OF interest cash. with
The exchange Of your bonds mature 70.
first mortgage ali the paying nes both and west OF
.s cS ss M sos 81. "c . r
Assoc alton which is To be paid for by bonds oil Tire ne~
THIS Plan is the result o. iuo.t Continuous Tor
unity Of The present wabash system can BE- prcscTvsd
frat mortgage bondhoiers The failure OF this plan tho nm
dersiened satisfied disruption OF fines east OF
the Mississippi the by the pres
the decatur and East 81 on. the and the detroit
west Of the Ms.,sps I.syns tic rsmsnus sa.sr1 divs
Inns sodae i'm sarh other other alliances
and concentrations that have Occurred in tho history
lien upon rons STOCK ana S prop
is So sTs for hS a9 I'M
morgaSs eondh"r to enter upon the LIMITATIONS tat INC
ssis be satisfactorily protected nv another
the s gIaua %'ra1s S0nahOr th.T
the rate Of about three coupons year long
progress of litigation be STAYED pendng tho working ont OF
mortgages pot end to the Recclvershp within res
the present divisional mortgages
amply secured and that tho owner, OF the bonds any OF me
IN cash by budding at foreclosure sale under their mort
tie lUl Amount OF the mortgage uen 'oHso
hsweyer involves nanci. aud requires con
certed action the OF maortes OF bondholers In tho
holders Of tho conferred the undor
s. the 90 o 9 thsr orss
ba from n bond " by tho
present plan Is deHrale the ymen 10 fn OF your
np% =: ba. The f% ne- ' Vest Of %@
dapaciy that any ssdvsnas9 as %s frcn
sS srre srrs Of eS and an
s.cnange Tor bons o. tho Chicago division and some 'ma"
although the u COMPANY Advancing tho money 10 ,nr
means provided paw the fuihinent
Of the plan The plan provides that mo trust CoPny h .
cever from the earnings under the rrneral authority Al
' wI b. %@eGiarsS e"eelo 20"
MoNus will remain in possession 'or the proes
Tho asrmcnt 10 which ,cur aep.s, Of sco, an as;Gp.
YER has boon carefav drawn win view 10 onr IN
cou"ss t. this committee And has been approved by the un
shou Of the bondhoi-r by tn. I'M
dcIsgned assent to mi, plan i VII IRON
therein rs'srved ~ The commit
'srpea and YOU viii BE- r-escd fro turthoi liability
expense, of the committee Tn, under. Emsd hAso
placed tani. by mo r%rshr.ss Go@mi5' leo
This committee represent their interest
benefit. to The tnIrs boiv Of nr.t norgse bonolass
Old would not nave been removed the payment, Of
,reaiy made woal! not hav boon MATE and the
nave forward Thcv room ncnd The adoption
Se ' D1n h hS sSs, "a ay
alternative 10 long continued AMI expensive iUgaton N"
beiief that this result of snch ieaon
wonld th nrst mortgage non Tao - ~ SINGLE
d,lsf their ia IL they prspery c"1n anl protect
Their interests committee have con'or II amt been al
v.ed counsel That due 10 YOU 20 IN iraYT u
nAbe plan of reorgank nn IN concert
other ntrrc-ts that would yon l' oppo inn!ty
taking exchange for bonds IN vii
matnrc tnut a.snninE the rrsPn, bv o. re-
mortgage property. ts'u that conh 10
II a % ou iholeT- ~ Hili
ultimately Jon vo IL ernine what Is
the best Irsc f'r yOgr nfcrcs's .........
FRED =. LAWRENCE.
REM. r. II ~ ~ y r.
EDW ARD OOrNOlT
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